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NSE LIVE! High-cap stocks rally equities to N22bn gain

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NSE RoundUp! Nigerian equities lose N111bn in post-dividend selling spree

A rally within the highly capitalised stocks group on Thursday counterbalanced equally wide losses among several other stocks to sustain the Nigerian stock market on the upside for the second consecutive trading session.

With 20 losers to 19 gainers, gains recorded by highly capitalised stocks such as Dangote Cement, Zenith Bank, Forte Oil, UAC of Nigeria and Flour Mills of Nigeria mitigated the losses and left the overall market position with a net capital gain of N22 billion.

Aggregate market value of all quoted companies on the Nigerian Stock Exchange (NSE) rose from its opening value of N8.834 trillion to close Thursday at N8.856 trillion. The All Share Index (ASI), the benchmark index that tracks share prices at the NSE, also rose by 0.25 per cent from 25,673.80 points to close at 25,739.18 points. The average year-to-date return, though still negative, improved to -10.14 per cent.

Most sectoral indices closed on the upside. The NSE Industrial Goods Index rode on the back of gains by Dangote Cement to close with a day-on-day return of 0.7 per cent. The NSE Banking Index appreciated by 0.4 per cent while the NSE Insurance Index inched up by 0.3 per cent. However, the NSE Oil & Gas Index depreciated by 0.6 per cent while the NSE Consumer Goods Index declined by 0.5 per cent.

Read also: NSE LIVE! Equities lose N25bn amidst tight trade

Dangote Cement, Nigeria’s most capitalised stock, rose by N1.84 or 1.16 per cent to close at N160. Dangote Cement accounts for nearly one-third of the total market capitalisation of all quoted companies at the stock market. Forte Oil had led the rally with a gain of N8.95 to close at N96.37. UAC of Nigeria followed Dangote Cement with a gain of 40 kobo to close at N16.50. Zenith Bank rose by 25 kobo to close at N14.50 while Flour Mills of Nigeria added 19 kobo to close at N18.49 per share.

On the negative side, Total Nigeria topped the losers list with a loss of N27.56 to close at N276.05. Mobil Oil Nigeria followed with a loss of N16.16 to close at N307.15. Unilever Nigeria declined by N2 to close at N46. International Breweries lost 95 kobo to close at N18.05 while Guinness Nigeria dropped by 84 kobo to close at N77.90 per share.

Total turnover stood at 165.99 million shares valued at N1.27 billion in 2,485 deals. The most active stock was Diamond Bank with a turnover of 80.27 million shares valued at N64.29 million.

“As market performance remains driven by bargain hunting, we expect some end of the week profit taking by investors in the trading session ahead,” Afrinvest Securities stated.

 

 

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